Heritage Foundation: Armenia Needs to Improve Judicial Effectiveness to Have Freer Economy
Armenia has the 34th freest economy in the 2020 Index of Economic Freedom published by the Heritage Foundation.
Armenia’s economic freedom score is 70, a 2.9 point increase due to a significant spike in the fiscal health score. Armenia is ranked 18th among 45 countries in the Europe region, and its overall score is just above the regional average and well above the world average, the report says, News.am reports.
According to the report, to attract greater investment and finally break out of its holding pattern to move higher into the mostly free category, Armenia will need to focus more intently on improving judicial effectiveness and government integrity.
As for Armenia's neighbors, Georgia is 12th, Azerbaijan is ranked 44, Turkey is 77th and Iran is 164th.
Singapore tops economic freedom index.
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- EBRD Raises Growth Forecast for Armenia’s Economy for 2022 In its latest Regional Economic Prospects (REP), the EBRD said that the economies of Armenia, Azerbaijan and Georgia are enjoying some of their highest growth rates in years.
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